SPF reports record results for 2007

Savills Private Finance says 2007 was a record year for the brokerage with underlying profit before tax rising by 16% from £4.4m in 2006 to £5.1m.

Despite the market downturn in the second half of 2007, it says that revenue increased by 11% in 2007, rising from £26.9m in 2006 to £29.8m in 2007. Margins also improved from 16% to 17%.

Mark Harris, managing director of Savills Private Finance, says that in the light of tightening liquidity in the UK and the significant investment the firm had made in improving its systems, the results were strong.

He says: “We continue to expand our traditional mortgage broking business geographically and now operate from 25 locations, including new offices in Cardiff, Jersey and Windsor.

“So far in 2008 we have also added Exeter, Newcastle and Liverpool to the mix.

“Our commercial and agricultural debt broking business performed strongly in more difficult market conditions, where the need for independent advice has become more important.”

Harris adds: “The outstanding quality of our people and our continuing investment in developing our infrastructure will serve us well in a market where borrowers will increasingly need advice from professional mortgage brokers.

“We are putting extra effort into our customer contact programme to ensure we retain existing clients and continue to deliver the high level of service they expect.”